FTC Sues To Block $85M CCS-Newpark Deal

Law360, New York (October 23, 2008, 12:00 AM EDT) -- The U.S. Federal Trade Commission wants a federal judge in Texas to block CCS Corp.’s $85 million acquisition of Newpark Environmental Services over concerns that the deal would lead to higher prices and reduced service levels for customers in the offshore oil and gas exploration and production industry.

The FTC filed a complaint in the U.S. District Court for the Southern District of Texas on Thursday seeking a temporary restraining order and preliminary injunction to stop the companies from consummating the deal.

The FTC wants the...
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